At the company's annual investor day, JPMorgan Chase CEO Jamie Dimon called the percentage of newspaper company revenue paid out to employees "just damned outrageous," according to Bloomberg News. "Worse than that, you [the media] don’t even make any money!"

Dimon then defended his company's own pay levels, arguing it necessary in the struggle to retain top talent. "We are going to pay competitively," he said, according to the WSJ. "We need top talent, you cannot run this business on second-rate talent."

I guess the level of talent at a newspaper doesn't matter, for some reason. Did I mention that Jamie Dimon made $23 million last year, while the average newspaper reporter in America makes $43,780?